Movement Strategy Center’s Post

[WARNING: Satire Ahead! If you have lost your sense of humor or had it surgically removed, do not read any further.] The kids are coming in from recess... or should I say Congress is back in session? To be fair, they haven't been vacationing on the beach the whole time (at least, most of them). No, they've been furiously fundraising for their re-election campaigns so they can remain in office even after they don't know who or where they are. You see, political office is addictive, and bad habits cost money. While the 1974 Congressional Budget Act calls for the President to submit a budget by the first Monday in February and for Congress to reach a budget resolution by April 15 with all stand-alone appropriations bills enacted on or before October 1, neither the President nor Congress seems to take their fiscal responsibilities seriously. In fact, Congress has only accomplished the latter 4 times in the last 46 years. That's a batting average of .087, and it won't get you on any All-Star team. The difference is that almost no one is ever sent down to the minors. Instead, we re-elect over 90% of them. We are enablers of a co-dependent relationship who make excuses for inexcusable performance because we have a "need" as well. We "need" our Team to win... essentially at any cost. Meanwhile, the Parties love it. They can take turns blaming each other for putting our Nation at risk. You witnessed it as they manufactured a Debt Ceiling Crisis earlier this year. Did they fix the problem? No. Did they scare most of us into believing there was going to be an apocalyptic default? Yes. SPOILER ALERT: They're going to do the same thing again. Then, they'll kick the can down the road with either a Continuing Resolution or an Omnibus bill depending on which serves their higher political purpose (i.e., whichever they can best exploit during the 2024 presidential election cycle). In the meantime, Republicans will claim Democrats are irresponsible spendthrifts who want to squander taxpayer money on pet projects (which is true... just as it is of the Republicans). Democrats will paint Republicans as heartless people who won't do anything to deliver clean air and water, better schools, food for the poor, or any other type of humanitarian aid (which is true... just as it is of the Democrats, who pass bills with nice names but no substance). Which brings me to 2024. It's a presidential election year. If you want to witness waste, keep track of how much money the Parties spend to win the various auctions (they can no longer be described as elections). The going rates are about $1 billion for a presidential ticket, $55 million for a Senate seat, and $5 million for a House seat. The President's annual salary is $400,000 per year, the VP's is $156,325, a Senator's is $193,400, and a Representative's is $174,000. If you do the return on investment, you'll realize how ludicrous it is to entrust any other them with our nation's budget. #budget #politicalparties

Excited to highlight some of the monumental achievements in the FY 2025 New York State Budget, led by Governor Kathy Hochul, which are directly benefiting Long Island. This balanced $237 billion budget stands as a testament to our dedication to New Yorkers, achieved without imposing increases on income taxes or statewide business taxes. Over the weekend, it was gratifying to see Newsday acknowledging the governor's pivotal successes in the budget, underscoring the impact of our collective efforts. Here are some of the standout budget accomplishments: Public Safety Measures: The budget takes decisive action against organized retail theft, strengthens hate crime prosecution, and invests in initiatives to curb gun violence and domestic abuse. Health Care Support: A substantial $35.5 billion investment in Medicaid, alongside initiatives to enhance mental health care and address medical debt, reaffirms our commitment to the well-being of New Yorkers. Education Focus: With a notable $1.3 billion increase in school aid, the budget underscores our dedication to foundational learning and college accessibility, ensuring every student receives a quality education. Innovation & Infrastructure: Investments in AI research, transit systems, clean energy, and infrastructure modernization lay the groundwork for a dynamic and sustainable future. Housing Solutions: Governor Hochul's leadership secured a groundbreaking housing deal to confront the crisis head-on, bolstering supply, safeguarding tenants, and combating discrimination. This includes crucial tax incentives, funding for new housing projects, and enhanced tenant protections. Community Support: The budget's allocation for crucial services such as abortion care, veterans' mental health, agriculture, and more underscores our unwavering commitment to the prosperity of every community member. This comprehensive budget is a testament to Governor Hochul's unwavering commitment to tackling critical issues and fostering growth and resilience across New York State, including here on Long Island.

Wondering what to give this holiday season? Consider a gift that keeps on giving – contributions to a 529 plan can help cover future tuition bills and may provide potential tax benefits for the gift giver. #CollegePlanning #529Plan #WealthManagement

In the budget on Wednesday, a change was made to the rather unfair (in my opinion) High Income Child Benefit Charge. This is good news for those earning £50k-£80k per annum with children in full-time education. There are also further tax benefits in taking financial advice if you fall into this earnings bracket. #childbenefit #taxplanning #financialplanning https://lnkd.in/e3rGUqqi

If you want to give money to your grandkids, there are several options but it's important to understand the financial, tax, estate planning and even psychological implications. This article provides a nice summary but consult an estate planning attorney and financial and tax advisors for advice on the best tactics for your situation. #wills #trusts #tax #wealth #assetprotection #estateplanning https://ow.ly/sIMU50PrV60

Programs like the Child Tax Credit, SNAP, and Head Start ensure the next generation grows up healthy and equipped with the foundation for a successful future. Unfortunately, the Urban Institute finds federal spending on children is projected to continue declining over the coming decade. Policymakers should fight to fund children’s futures – not only as the right thing to do, but as an investment with long-term benefits. Programs that support children reduce poverty in the long term and help to raise healthy adults, who then face lower healthcare costs. https://lnkd.in/gHBeZMBv

Are you taking full advantage of the many tax and estate benefits of 529 plans? Real client examples: * Parents paying college tuition directly to the institution in Georgia (fully depleted the student's 529.) We recommended funding the GA Path2College 529 and immediately take a qualified distribution. Clients are now eligible to receive an $8,000 GA state tax deduction! * Grandparents with a large estate are gifting annually to multiple 529s plans. We discussed 'Superfunding' the 10 plans to reduce their estate by $1.8 million in a single day without using any of their lifetime exemptions! (MFJ max is $180,000 per beneficiary in a single year without counting against the donor’s federal gift exclusion). * Clients weren't funding a 529 due to financial aid concerns. However, as the child is a dependent and the parent is the 529 holder, we explained only 3-6% of the 529's account value is counted toward the Estimated Family Contribution (EFC), as determined by the FAFSA. Don't lose out on the many tax benefits of 529s! Schedule your 20 Minute Ask Anything Session today to learn more. #WeAReBaird #collegeplanning #529s #taxsavings